EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) jumps from the descending trendline down.
A continuation of the downtrend down to the next support line at 0.8635 is expected.
Caution: A possible change in the direction of the resistance zone at 0.86551 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Support Level’ indicator layout is detected. The indicator shows ‘Support Level’. which could be a negative chart signal. The currency pair is likely to fall.
Furthermore a ‘Northern Doji’ chart pattern is found. The candles form ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.86864 |
| 2nd High | 0.86826 |
| Next High | 0.86551 |
| Current Price | 0.86424 |
| Next Low | 0.8635 |
| 2nd Low | 0.86147 |
| 3rd Low | 0.86111 |
0.86551 – 0.86826 – 0.86864 – 0.86486 – 0.86553 – 0.86623 — 46.211853345894 – 38.496232009261 — 37.645501186076 – 49.886909030728 – 28.337497617514 – 35.589490697332
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji – Double bottom retreat down – –